Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210428 
Year of Publication: 
2018
Series/Report no.: 
Working Paper No. 873
Publisher: 
Queen Mary University of London, School of Economics and Finance, London
Abstract: 
We study the behavior of the US labor share over the past 70 years. We find that the capitalization of intellectual property products in the national income and product accounts entirely explains - in a purely accounting sense - the observed decline of the US labor share. We assess the implications of this result for the US macroeconomic model and discuss the way forward.
Subjects: 
Labor Share
Intellectual Property Products
Capital
1999- and 2013-BEA Revisions
JEL: 
E01
E22
E25
Document Type: 
Working Paper

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